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Arjun (Business man)     08 September 2012

Collecting property documents from bank

Dear sir/madam,

I have taken House loan from UCO Bank after my marriage on 2006. Now my wife living with her parents from 2008. She is coapplicant for loan But sale deed on my name only. So far she haven't paid any EMI and all EMI's paid by me only. Now i would like to sell my house. i have few questions please help me

1) If i pay off all loan, is any stoppage from UCO Bank to return original documents to me without my wife involvement?

2) As i am sole owner for my flat; is there any issue while selling my flat?

3) Does my wife presence compulsory to collect my original papers;

or shall i transfer loan to another bank and sell my house by adding my mom applicate?

Please help me



Learning

 4 Replies

Anish Thakur 7018812737 (advocate)     08 September 2012

you have not mentioned here that property mortaged in bank is in full title of yours only or your wife too,if you are the sole owner of the property that is mortaged in bank then you can take th eproperty papers back alone and yours wife presence is not necessary .

1 Like

Anish Thakur 7018812737 (advocate)     08 September 2012

there is no procedure to transfer th ebank loan to another bank and you can not release the property documents mortaged in bank for loan before paying the loan back to the bank.

1 Like

Arjun (Business man)     08 September 2012

Thanks Anish for reply; Property solely on my name 100%; Today i went to bank and discussed with Bank manager; He said they is no issue for releasing Original documents once loan get cleared;

So i planned to pay off in one time get my documents without informing my wife and also bank is not concerned anything about coapplicant once loan closed.

 

Thanks for help

RAJU O.F., (Advocate)     19 December 2012

If you are the only mortgagor of the property, you may close the loan a/c and get back the title documents from the bank and also sell the property after closure of the loan, without involving any other.

1 Like

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